NI housing momentum remains strong
Wed, 8th October 2014

NI housing momentum remains strong

Momentum in the Northern Ireland housing market remains strong despite price and sales growth moderating in September, according to the latest RICS and Ulster Bank Residential Market Survey for Northern Ireland.

While Northern Ireland recorded the "highest price balance of all the UK regions and strong data for newly agreed sales", both indicators were lower than levels recorded in the August survey.

Price expectations over the next three months remain robust, although they have eased slightly, while sales expectations for the period have increased.

RICS Northern Ireland spokesman Samuel Dickey said: "As the survey suggests, there is an issue with supply in the market, whilst buyer demand remains strong. This is creating the conditions for continuing price growth.

"Surveyors also expect sales to increase in the short-term. In the longer-term, it remains to be seen exactly what impact the significant pressure on the public finances here has on confidence, particularly when combined with the inevitability of interest rate rises by the Bank of England.

"However, the likelihood is for a more subdued housing market in 2015 than we have seen this year."

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category Ireland  |  source Insider Media